Over 110 UK credit cards independently reviewed by Fiscus Credit Cards
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Platinum Card from Sainsburys
This card was last reviewed on Wednesday, 15 March 2006.
| Overall Rating: |
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| Issued By: |
Sainsburys |
| Card: |
Platinum Card |
| Network: |
Visa |
| Category: |
Rewards |
| Acceptance: |
 |
| Insurance: |
- |
| Service: |
Online account management. Telephone help line |
| Comments: |
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| Pitch: |
- |
| Typical APR: |
15.9% |
| Interest Free Days: |
50 |
| Minimum Repayment: |
- |
| Annual Fee: |
No annual fee. |
| APR: |
5.9% |
| Period: |
Life |
| Charges: |
No Fee |
| APR: |
0% interest |
| Period: |
10 Months |
| Type: |
Nectar or Cashback |
| Description: |
- |
| Reward Rate: |
0.25% |
| Period: |
- |
| Aimed At: |
Retail spenders who use their credit card frequently and who take a little longer to pay them off. |
| Review: |
Rewards Details Earn 1 Nectar point for every full £2 you spend with this card. Or you can choose to have your rewards in the form of 0.25% cash back on purchases you make. You also receive a voucher booklet of up to £150, including money off your shopping at Sainsbury's. Review Full marks must go Sainsbury's Bank for offering a card that has 0% on purchases for an entire 12 months. Sainsbury's says in research that it commissioned that 4.3 million people are in the market to take out a new credit card which offers an introductory rate of 0% APR on purchases. It also says that collectively these people intend to spend £9.5 billion on their new cards during the introductory period. So if this is the case, why then can't this bank be more generous and offer these four million big spenders 0% on balance transfers as well? Well as they say, there is no such thing as a free lunch – and as the banks would argue, they need to make their money somehow. To be fairer to Sainsbury's though, it does actually offer 5.9% APR on balance transfers for the life of the balance. However, it only offers this deal if you transfer your balance over in the first six months. If you transfer the balance over after the first six months that you hold the card, then the standard variable rate of 15.9%. Granted, the 5.9% rate is pretty low compared to what you would pay if your balances were exposed to standard rates. It's even lower than most loans in the market at the moment. For 0% on purchases a year is a long time, so be sure that if you do apply for this card that you mark in your diary the date when the offer comes to an end. The standard rate to which the card reverts to at then end of the offer period is 15.9% on your purchases. Before this happens, you should immediately clear any money left in your credit card. It's all to easy to forget when introductory offers are over and then having to pay interest on your balance and purchases. Verdict Our advice is that if you are not disciplined enough to remember to switch or pay off your credit card once introductory periods are over then you could be better off with this card. Because if you are forgetful with introductory rates then at least you will be paying a low rate of interest compared to the other standard variable rates on the market. Note that the Sainsbury's Platinum credit card has very few differences compared to the standard card, except that you are more likely to get a higher credit limit with their platinum product. |
| Verdict: |
- |
| Overall Rating: |
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